Deferrals... how likely to turn into a YES or NO?

So here's the deal: I was deferred at Lewis & Clark. But I have no idea what that means, other than they are one of the 3 schools that have actually responded to me--(2 others, acceptances) They claim they will give me some kind of answer at the end of April or beginning of May.

My question, before I send in a deposit to one of the schools that can make up their minds, what can I expect with a deferral? Do they usually substitute for waitlists until they hear from more admits, thus likely resulting in admissions? Or are they just as likely to result in a rejection?

i have no proof or even good evidence, but my suspicion is that they are much more likely to yield a rejection. at this point, schools are just protecting themselves and keeping their options open while stringing along qualified candidates.